Mr. Speaker, I rise today to highlight a framework I have designed which will begin to address the challenging fiscal issues we face as a Nation. This proposal is to deal with the impending debt ceiling crisis that will be coming upon us…
Mr. Speaker, I rise today to highlight a framework I have designed which will begin to address the challenging fiscal issues we face as a Nation. This proposal is to deal with the impending debt ceiling crisis that will be coming upon us in February or shortly thereafter.
I am pleased to hear recent news today of a budget agreement dealing with a potential government shutdown resolution that avoids governing by crisis, but we have the debt ceiling issue right behind. What I have put forth, Mr. Speaker, is an honest, sincere proposal consisting of three steps to reduce our spending on the Federal level, address our Nation's broken Tax Code, and ensure the solvency of Social Security and Medicare.
Mr. Speaker, I outlined the proposal in a letter sent to the President on November 15 of this year, and that letter reads:
Dear Mr. President,
It is time. As I have expressed before in writing to you
and members of your administration, I am very interested in
working with you in a bipartisan manner to implement long-
term solutions to America's debt problems. Our impending debt
crisis and threats to the solvency of Social Security and
Medicare must be solved now before they reach catastrophic
levels. I urge you to work with Congress to achieve a long-
term solution. As such, I would like to take you up on your
public offer to discuss ideas and implement solutions that
will no longer force us to govern through crises, cliffs, or
shutdown deadlines.
On October 16, 2013, you stated you are ``Willing to work
with anybody . . . Democrat or Republican, House or Senate
Members on any idea that will grow our economy, create new
jobs, strengthen the middle class, and get our fiscal house
in order for the long term.'' To that end, I submit the
following honest proposal which I truly believe will take a
small but significant step forward toward more responsible
governance. Also, I hope it might change the culture of
Washington, D.C., to an environment where good policy
triumphs over politics.
As you can see, the honest proposal is a multistep vision
and plan summarized as follows:
Step 1, raise the February 7, 2014, debt ceiling limit in
an amount equal to the total CBO score of spending
reductions, reforms, and removal of waste, fraud, and abuse
within government operations that have already been
identified and supported on a bipartisan basis. Attached,
please find a list of $573 billion of such government reforms
and spending reductions already identified to date.
Step 2a, upon completion of step 1, we will then move to
step 2. In step 2, what we would propose is votes in the
House and Senate on their respective visions for
comprehensive tax reform and also for reform of our
entitlement programs to ensure their solvency for another
generation would occur. If those votes occur in the House and
Senate, there would be automatic relief of the debt ceiling
cap for an additional year.
And then we would move to step 3, Mr. President. Step 3
would essentially say, if in the House or the Senate we enact
either one of those long-term solutions through our Tax Code
or through our entitlement crisis with our Social Security
and Medicare insolvency coming down on us, we would
immediately, in step 3, relieve the debt ceiling for an
additional 2-year period of time. This would mean, Mr.
President, the debt ceiling restraint would no longer impact
your administration as it would be automatically extended
beyond the end of your administration's term.
I kindly request you review this proposal and then meet to
discuss how it can be improved and implemented. To me, this
is an honest proposal which will put Americans first and
begin to address the pressing issues of our day. We have
major debt issues that cannot wait any longer. Our arcane Tax
Code stifles economic growth, and the fiscal health of Social
Security and Medicare is worsening beyond control. If we
solve these two challenges, we will place our children and
grandchildren and our Nation's finances in a far better
position than where they are now projected to be. To me, this
adheres to a fundamental rule that we must pass America on to
our next generation in a better condition than which we found
her.
I look forward to hearing your thoughts and working with
you to prevent the dire consequences of failing to address
these challenges.
Mr. Speaker, I have yet to receive a response from the President, not even a courtesy response so I know it was received and not lost in the mail between my office in the Longworth Building and the White House, less than 2 miles away.
So I take to the floor of the House today to have my proposal officially recorded and to lay out this framework to get our Nation on a path of fiscal sustainability, to get our American fellow citizens back to work by fixing our Tax Code, and solving the entitlement crisis that is impending upon us.
With that, I ask us to join in this proposal and ask the President to join us in a bipartisan manner to address these concerns.